Naira Gains at Official Window, Depreciates at Parallel to N1,595/$1, N1,550/$1

Naira Gains at Official Window, Depreciates at Parallel to N1,595/$1, N1,550/$1

…Daily turnover increases by 88%

Nume Ekeghe

The Naira yesterday, recorded gain for two consecutive days at the official window but depreciated marginally at the parallel market.
It depreciated to N1,550 from N1,500 it exchanged on Wednesday representing N50 decline in one day.
However, the official Nigerian Autonomous Foreign Exchange (NAFEM) appreciated, closing at N1,595.11 signifying a N14.4 gain compared to N1,609.51 it closed on Wednesday.


Notably, the daily turnover recorded yesterday was $217.14 indicating an 82.28 per cent decline from $119.14 million, quoted on Wednesday.
Also, the highest spot rate yesterday was pegged at N1660, while the lowest spot rate recorded was N1,448.

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